Debt restructuring talks at Zabeel Investments, owned by the crown prince of Dubai, have ground to a halt with multiple loans in limbo and few assets available for sale, leaving banks facing steep haircuts, five people familiar with the matter sai

Dubai's Nakheel will issue the first tranche of a Dh4.8 billion ($1.31 billion) Islamic bond to trade creditors on Thursday, its chairman said, as the property firm completes a complex debt restructuring underway since 2009.
Ali Rashid

Gold prices hit a record high at more than $1,623 an ounce and Asian stock markets were largely flat, as news out of Washington indicated politicians were making little progress in ending the deadlock over lifting the US debt ceiling.
Rep

Negotiations on a sweeping deficit-reduction deal collapsed in acrimony on Friday as US House Speaker John Boehner pulled out of talks with President Barack Obama, dealing a blow to efforts to avert a looming debt default.
With the deadlin

Moody's Investors Service jolted White House debt talks with a warning that the United States may lose its top credit rating in the coming weeks, piling pressure on Washington to lift its debt ceiling.
The announcement by Moody's, the fir

Dubai Group, part of a conglomerate owned by the ruler of Dubai, said it wants to speed up restructuring talks on $6 billion of debt and has set up two creditor committees.
The emirate is climbing out from under a massive debt burden, with

Over-stretched Dubai plays host to some of its bank creditors on Thursday, eight months after the emirate's flagship state conglomerate Dubai World hit the financial buffers.
A core group of banks has already agreed broad terms for a r

Kuwait's Global Investment House, downgraded by two ratings agencies for allegedly not meeting debt obligations, said it named HSBC as an adviser with foreign lenders after a meeting with them on Sunday.
Shares in Kuwait's biggest